Paz chairman quits, cites serious corporate governance issues

Yitzhak Ezer has resigned following a rift with the energy company's management.

Paz Oil Company Ltd. (TASE:PZOL) chairman Yitzhak Ezer has resigned due to serious differences with the company's management headed by CEO Yona Fogel. Ezer became chairman of Paz in 2016.

In his resignation letter, he mentions the differences with the company's management and added, "In my opinion, the way in which the board of directors appointments committee chose recommended candidates by it raises serious questions regarding corporate governance at the company."